Depleted oil reserve leaves US exposed
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Kuwait Cuts Oil Production
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Kuwait has cut oil output as Iran blocks the Strait of Hormuz. With Brent up 28% and India importing half its crude through the waterway, the stakes are high.
Rising oil prices are driving up Occidental Petroleum's stock price.
Oil prices have surged above $90 amid disruptions in the Strait of Hormuz. Here’s a reality-based look at how high crude could go—and what ultimately limits the spike.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 5.6 million barrels in the week ending February 27, after adding 11.4 million barrels in the week prior.
Oil stocks have risen along with crude prices.
Tehran's selective restriction spares neutral shipping, allowing continued flow of 40% of India's crude through the key chokepoint as Russia boosts supplies
India has a total inventory cover of nearly eight weeks of crude oil and petroleum products, according to government sources.
Oil prices are absolutely ripping higher, with investors of all stripes increasingly viewing oil stocks as a great place to invest. Indeed, with Brent crude approaching $85 per barrel at the time of writing,